The full release from the U.S. Attorney's Office follows, but long story short is: Eleanor won't have to go to prison, says the release, "because of her physical and mental health conditions." She'll be electronically monitored and confined to her home. (No, not this one.) Says the U.S. Attorney:

At the hearing today, Eleanor Sheets asked the judge for
leniency and apologized to the Court. She indicated that she and her
family are embarrassed by her current situation and she is sorry for her
actions. Her attorneys argued to the Court that she has literally lost
everything -- her home, her lifestyle, her business, her dignity, the
respect of the community and in two weeks, her husband. They argued
that, because of her physical and mental conditions, sentencing her to a
term in prison would amount to a death sentence.

Jump for a full accounting.

DALLAS REALTOR SENTENCED
FOR FAILING TO PAY FEDERAL INCOME TAXES

DALLAS - Eleanor Mowery Sheets, who admitted failing to pay
federal income taxes, was sentenced this morning by U.S. Magistrate
Judge Paul D. Stickney to one year in prison, three years' probation and
ordered to pay $1,371,572 in back taxes, announced U.S. Attorney James
T. Jacks of the Northern District of Texas. At the sentencing hearing,
Judge Stickney stated that he will allow Sheets to serve her one-year
prison sentence under strict home confinement, including electronic
monitoring, because of her physical and mental health conditions. After
her home confinement, which begins immediately, is served, she will
begin serving her three-year probationary period.

During the hearing today, her husband, John Nicholas "Nicky"
Sheets testified on her behalf. According to the public record, he
pleaded guilty to one count of tax evasion and was sentenced in August
to 40 months in prison; he must report to his assigned correctional
facility in Virginia by November 17, 2010. He testified that Eleanor
Mowery Sheets was the "face" and "persona" of EMS, Inc. but he ran the
business side of the company by himself, stating that he paid, or didn't
pay, all bills and handled all tax-related issues. He testified that he
intentionally hid from Eleanor Sheets the true extent of their financial
problems and stated that he also signed Eleanor Sheets' name to numerous
tax returns and then didn't pay the taxes due. Nicky Sheets testified
that Eleanor Mowery Sheets became a "larger than life" fixture in Park
Cities real estate but in reality, it wasn't as it seemed. He testified
that for many years Eleanor Sheets suffered from debilitating physical
and mental medical conditions that hampered her ability to assist him in
the day-to-day activities of their real estate business.

At the hearing today, Eleanor Sheets asked the judge for
leniency and apologized to the Court. She indicated that she and her
family are embarrassed by her current situation and she is sorry for her
actions. Her attorneys argued to the Court that she has literally lost
everything - her home, her lifestyle, her business, her dignity, the
respect of the community and in two weeks, her husband. They argued
that, because of her physical and mental conditions, sentencing her to a
term in prison would amount to a death sentence.

According to documents filed in the case, Eleanor Sheets is
a licensed realtor who has lived and worked in the Dallas area for
several years. Since 1996, she and her husband successfully worked as
real estate agents and established multiple closely-held corporations,
including, EMS, Inc., E-Residential, LLC and Dallas EMS, LLC, to conduct
real estate business. During tax years 2003 through 2007, Eleanor and
Nicky Sheets lived in a home, with a market value in excess of $1.3
million, in the Preston Hollow area of Dallas. That home has since been
seized by the IRS.

According to the plea documents, Eleanor Sheets admitted
that she willfully failed to pay both individual income and corporate
taxes during tax years 2003 through 2007. She pleaded guilty in July
2010 to four counts of failure to pay income taxes.